Aastrom buys part of pharmaceutical firm

4:15 PM,
Apr. 21, 2014

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The Ann Arbor biotech firm Aastrom Biosciences announced today that it has a tentative $6.5-million agreement to buy a piece of the medicine business of Paris-based global pharmaceutical firm Sanofi.

The deal, expected to close in about three weeks, would give Aastrom ownership of Sanofi's Cell Therapy and Regenerative Medicine, comprised of three medical products and their manufacturing facilities in Cambridge, Mass. and in Denmark.

The products are Carticel, a treatment for cartilage defects in joints; Epicel, a permanent skin replacement for large burns on the body; and MACI, ...